Tuesday, June 25, 2019 - 1:23pm

SubPrime Auto Finance News Staff

DIMONT bolstered its leadership team on Tuesday with a former VanWagenen executive who also has been involved with multiple industry organizations such as the American Financial Services Association and the National Automotive Finance Association. The Dallas-based provider of insurance claims adjusting and... Read More

Tuesday, June 25, 2019 - 1:23pm

SubPrime Auto Finance News Staff

On Tuesday, KAR Auction Services shifted an executive from AFC to a role with PAR North America. According to a news release, PAR announced Drew Shull was named vice president of sales and client experience. In his new role, the company said Shull will focus on enhancing PAR’s client experience and product... Read More

Tuesday, June 25, 2019 - 11:18am

SubPrime Auto Finance News Staff

Analysts discovered some positive metrics when finalizing April data for the latest S&P Global Ratings report about the auto loan asset-backed securities (ABS) sector. S&P Global Ratings shared that subprime auto loan ABS losses improved month-over-month to 6.60% from 7.11%. However, analysts acknowledged they... Read More

Monday, June 24, 2019 - 12:04pm

SubPrime Auto Finance News Staff

Black Book recently rolled out its latest solution for auto finance professionals — Asset Verification Tool — which is designed to help protect finance companies, auction and dealers against vehicle misrepresentation by providing insight on vehicle trim and equipped options. By confirming the trim and... Read More

Monday, June 24, 2019 - 12:03pm

SubPrime Auto Finance News Staff

Auto defaults remained below the 1% mark in May, according to the latest information assembled by S&P Dow Jones Indices and Experian. Analysts noticed the May auto default reading dropped 7 basis points to settle at 0.87%. Auto defaults have declined 12 basis points since the beginning of the year. The May... Read More

Friday, June 21, 2019 - 11:46am

SubPrime Auto Finance News Staff

TrustScience and Inovatec Systems Corp. finalized a partnership this week. The provider of artificial intelligence-fueled credit scoring and the loan operating system (LOS) provider announced they will partner to release a fully automated lending platform that can enable end-to-end loan management across the entire... Read More

Friday, June 21, 2019 - 11:45am

SubPrime Auto Finance News Staff

Joel Kennedy’s efforts on behalf of the National Automotive Finance Association are set to become even more involved. The association that exclusively serves the non-prime auto financing industry recently named Kennedy as its next president. Kennedy succeeds Sharon Mancero, who held the post for a two-year... Read More

Thursday, June 20, 2019 - 12:12pm

Nick Zulovich, Senior Editor

This year began with expectations the Federal Reserve would push interest rates higher multiple times. Then this week, not only did policymakers maintain the rate at its current level, experts are seeing the possibility of a rate cut before 2019 closes — perhaps because a recession might be approaching. While not... Read More